Xnvest claims to be a reliable broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag.
Xnvest presents some telephone numbers that belong to the UK, Canada, Belgium, and France. However, please be informed that both forex activities and forex brokers have been banned since August 2016 in Belgium. And it is impossible that Xnvest is a regulated broker in Belgium.
So we searched the forex regulators in the other three countries which include the United Kingdom Financial Conduct Authority (UK FCA), the Investment Industry Regulatory Organization of Canada (IIROC), and the France Autorité des Marchés Financiers (AMF). But we did not find any result that matched this broker in UK FCA and IIROC. Moreover, we found that AMF warned the public that Xnvest is not authorized to provide forex services in France.
The truth is that Xnvest is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.
Xnvest claims to be a reliable broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. Xnvest presents some telephone numbers that belong to the UK, Canada, Belgium, and France. However, please be informed that both forex activities and forex brokers have been banned since August 2016 in Belgium. And it is impossible that Xnvest is a regulated broker in Belgium. So we searched the forex regulators in the other three countries which include the United Kingdom Financial Conduct Authority (UK FCA), the Investment Industry Regulatory Organization of Canada (IIROC), and the France Autorité des Marchés Financiers (AMF). But we did not find any result that matched this broker in UK FCA and IIROC. Moreover, we found that AMF warned the public that Xnvest is not authorized to provide forex services in France. The truth is that Xnvest is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.